Aviva Life and Pensions Ireland has revealed that only one in three Irish people over the age of 50 feel confident their retirement savings will be sufficient for their post-work years, according to new research published on 4 November 2026. The findings highlight widespread uncertainty among those nearing or already in retirement about their financial preparedness.
The study, conducted by Red C Research on behalf of the Dublin-based insurer, surveyed 512 adults aged 50 and above and found that nearly two-thirds of retirees aged 65 and over would change aspects of how they prepared for their later years if given another opportunity.
Key facts
- Only 39 per cent of those approaching retirement feel they have adequately prepared for their post-work life
- Just 38 per cent of people nearing retirement have planned for their savings to last 20 years or more
- 65 per cent of those expecting to retire later than desired cite insufficient savings as the primary reason
- Only 15 per cent of respondents know the exact value of their pension pot
- The research included 255 people approaching retirement (aged 50-65) and 257 already retired
Knowledge Gap Among Pre-Retirees
The research uncovered significant knowledge gaps among those approaching retirement. More than half of people in the 50-65 age bracket have never calculated how many paydays remain before they stop working, while an overwhelming 85 per cent do not know the precise value of their pension savings.
Stephen Rice, propositions lead at Aviva, commented on the disconnect between action and confidence. “Many people are saving for retirement, but our research suggests there is often a gap between taking action and feeling confident those preparations will be enough,” he said. “Understanding what you have saved, reviewing your plans regularly and seeking advice where needed can help people feel more confident about their financial future.”
The findings arrive at a time when Ireland’s finance sector is grappling with the implications of increased longevity. Those retiring at 65 today can reasonably expect their savings to support them for 20 to 25 years or potentially longer, placing greater emphasis on the adequacy of retirement planning.
Campaign Aims to Boost Retirement Confidence
To address these concerns, Aviva has launched ‘The Second Half’ campaign in partnership with Bernard Jackman, the rugby coach and former Ireland international who turned 50 this year. The initiative aims to encourage people to review their retirement preparations and make informed decisions about their financial futures.
Jackman drew parallels between rugby strategy and retirement planning. “In rugby, the second half is where preparation starts to pay off. But first comes half-time, a chance to take stock, adjust and focus on what’s ahead,” he stated. “Turning 50 this year has made me think about that in a personal way. I’ve learned a lot through this campaign and would encourage people to pause, look at their retirement plans and understand the decisions they can make today to help shape their future.”
Among those surveyed who anticipate working beyond their preferred retirement age, nearly two-thirds attribute this decision to concerns about insufficient savings. The research underscores that while most people are taking steps to save for retirement, many remain unclear whether their accumulated funds will prove adequate for their needs and desired lifestyle in later years.
The insurer emphasised that confidence in retirement depends not only on the amount saved but also on understanding how long those savings must last and whether they align with anticipated living costs and lifestyle expectations during the retirement years.
Reporting based on original coverage by Business Plus.